Question 11 (0.33 points)

A good for which the marginal utility derived from current consumption increases in relation to past consumption through a process of "learning by doing" that results in the accumulation of "consumption capital" is considered a:

Question 11 options:

	Snob Good.
	Addictive Good.
	Luxury Good.
	Normal Good.

Question 12 (0.33 points)

Theatre, Ballet and Opera can be considered:

Question 12 options:

	All of the above
	Addictive goods
	Substitute goods
	Luxury goods

Question 13 (0.34 points)

Governments should intervene in markets when:

Question 13 options:

	The social benefits gained from intervention outweigh the direct costs involved in comparison to alternative means of achieving the same ends.
	There is a social dilemma.
	There is a market failure.
	There are public goods.

Question 14 (0.33 points)

In order to support the the Australian Aboriginal Art Market, the government:

Question 14 options:

	Implemented an Art Code of Conduct.
	All of the above
	Changed superannuation fund rules.
	Introduced a new resale royalty scheme.

Question 15 (0.33 points)

The new regulations created to support the Indigenous Art Market failed because:

Question 15 options:

	Changes in superannuation fund rules motivated holding more Art work.
	Generated oversupply of artwork in the market
	Resale Royalties increased for non-indigenous.
	More indigenous employees were working at mo